ThinCats has predicted that there will be huge demand for its business lending this year after the end of the coronavirus business interruption loan scheme (CBILS) and the pandemic.
In its 2020 annual review, ThinCats said that it was strongly focused on CBILS over the summer. Once the government-backed lending scheme ends on 31 March 2021, ThinCats will start funding more transactions.
These include management buyouts or other transactions which may not qualify for CBILS.
ThinCats said it expects many mid-sized businesses to require additional funding as the vaccine rollout may lead to social distancing restrictions to be loosened in the Spring, with the economy picking up soon after.
“Looking ahead into 2021 there will be further funding requirements for many businesses as they address deferred debts such as tax or rental payments and invest to make the most of the post-pandemic environment,” Amany Attia, chief executive of ThinCats, said in the report.
“We have substantial amounts of lending capital to deploy and look forward to supporting many more mid-sized businesses with their specific needs over the next 12 months.”